The results of the 2014 State of Multichannel Customer Service Survey have been released. The same parameters of time and speed-of-answer are still prominent. The survey sampled responses of 1,000 U.S consumers and noted the following statistics which are consistent with past data:
Is Customer Loyalty the Same as Retention?
Loyalty looks at building a relationship between a business and its customers. On the other hand, retention is about customer preservation.
The Customer Satisfaction Conundrum
The bottom line is the customer satisfaction is not as simple as it used to be. No longer are customers uniquely loyal to only one brand. Certainly, it is important to maintain customer satisfaction, but the satisfaction scores by themselves are not sufficient to ensure sustainability and growth.
Customer Zombies
A recent study from Colloquy found that more than 50% of customers who initiate a loyalty program failed to return. Customers become zombies when they lose interest in the company, product or service.
Does Your Business Have a Customer Culture?
The bottom line is that the customer experience continues to be validated as a significant indicator of a company’s success or failure. These seven factors are key components for describing how well the company’s culture is tuned to their customers.
A Basic Assumption of Customer Satisfaction: Reconsidered
One of the basic assumptions that have been considered sacrosanct is high levels of customer satisfaction lead to increased market share. Some recent research suggests that there this assumption may not be universally true.
Loyalty is a 2-Way Street
Most companies involved in retail or commercial sales are always looking for customer loyalty. It seems that companies often forget there is another side to loyalty. The other side of the relationship is being loyal to your customers.
An Update on Customer Rage
The WP Carey School of Business at Arizona State University has published the 2013 update of the customer rage study. The 2013 version is the sixth study wave. A general conclusion from the study is that if a company handles a complaint well, the customer is more likely to become loyal.
What is Happening to Loyalty?
In difficult economic times price becomes a significant variable. However, customers know value and understand the implications of good customer service versus poor customer service.
What is Deal Loyalty?
True loyalty programs are built on the basis of establishing a long-term positive relationship between the company and the customer and is not accomplished with a single “deal” or even multiple “deals.”
